Net property income grew 3.1 per cent from the previous year to $28.3 million.

AT A GLANCE

GROSS REVENUE: $32.7 million (+1.9%)

NET PROPERTY INCOME: $28.3 million (+3.1%)

DISTRIBUTION PER SECURITY: 1.26 cents (-3.1%)

Its manager said yesterday that the return of large biennial events and Singapore being the Asean chair this year are expected to raise demand for hotel accommodation.

New room supply is also expected to slow down this year. "However as the market has to absorb the additional rooms that came on-stream in the second half of 2017, the market environment remains competitive," it added.

Meanwhile, challenges in Singapore's retail scene remain, with tenants more cautious and taking a longer time to renew or commit to leases, the manager noted.

The counter fell two cents, or 2.4 per cent, to 82 cents yesterday, before the results announcement.

A version of this article appeared in the print edition of The Straits Times on May 03, 2018, with the headline 'OUE H-Trust's Q1 DPS hit by weak retail sector'. Print Edition | Subscribe

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